Analog Devices (NASDAQ:ADI) Stock Price Down 0.4% on Insider Selling

Analog Devices, Inc. (NASDAQ:ADI)’s share price fell 0.4% on Thursday after an insider sold shares in the company. The stock traded as low as $214.64 and last traded at $216.21. 684,650 shares traded hands during trading, a decline of 79% from the average session volume of 3,215,687 shares. The stock had previously closed at $217.12.

Specifically, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total transaction of $2,158,300.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,744,590.89. This trade represents a 31.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ADI shares. TD Cowen decreased their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Wells Fargo & Company assumed coverage on Analog Devices in a report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price objective on the stock. Truist Financial cut their price target on Analog Devices from $233.00 to $227.00 and set a “hold” rating on the stock in a research note on Wednesday, November 27th. Piper Sandler dropped their price objective on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Finally, Bank of America lowered their price target on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and an average target price of $249.33.

Analog Devices Trading Down 0.5 %

The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $107.50 billion, a P/E ratio of 65.84, a PEG ratio of 2.47 and a beta of 1.05. The business has a 50 day moving average of $222.16 and a 200-day moving average of $225.53.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.03. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The firm’s quarterly revenue was down 10.1% on a year-over-year basis. During the same period last year, the business posted $2.01 earnings per share. Analysts anticipate that Analog Devices, Inc. will post 7.15 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Monday, December 9th will be issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Monday, December 9th. Analog Devices’s payout ratio is 111.85%.

Institutional Investors Weigh In On Analog Devices

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ADI. Capital Performance Advisors LLP bought a new position in shares of Analog Devices in the third quarter valued at $28,000. New Millennium Group LLC acquired a new position in shares of Analog Devices during the 2nd quarter worth about $29,000. Archer Investment Corp raised its holdings in shares of Analog Devices by 101.4% in the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 73 shares during the period. ORG Partners LLC lifted its stake in Analog Devices by 675.0% in the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 135 shares during the last quarter. Finally, Hobbs Group Advisors LLC bought a new position in Analog Devices during the second quarter worth about $37,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Company Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.